The main reasons are as follows: first, the sugar content of sugarcane to be harvested in Brazil, the world's largest sugar producer, decreased due to heavy rain, which led to a decrease in sugar production, while the sugar production in India, the world's second largest sugar producer, also decreased greatly due to drought; Secondly, according to the forecast of relevant institutions, the raw sugar shortage is nearly 8 million metric tons this year, and it is expected to reach 5 million metric tons next year, while the related raw sugar inventory has fallen to nearly 20 million metric tons, which is close to the lowest level in history. It is the above factors that lead to the sharp rise of sugar futures. At the beginning of this year, the raw sugar of new york, which is related to sugar futures, has risen from about 1 1 USD per pound to about $23 now, which has more than doubled.